Handpicked updates about India’s business and the business of India

If, like us, you still have that one friend going on about their artisanal sourdough starter you can now finally tell them to shut up. India’s very own Butter Garlic Naan has topped the global bread rankings, earning its rightful place as the undisputed champion of carb indulgence. Garam garam naan … dal makhni … sirke waale pyaaz … oh ho ho.

Now, let’s get into the Dispatch! 🚀

Today’s reading time is 6 mins.

Markets 🔔🐂🐻

As of the Indian market closed on Nov 4th   

The Indian stock market indices ended with significant losses on Tuesday, driven by profit booking and weak global cues. The downturn was fuelled by rising concerns that Wall Street is heading for a crash due to unsustainable tech valuations. 

Global Affairs
Ottawa Tightens The Screws On Visa Fraud

Image credits: TOI

Canada’s New Visa Law: In a move that’s stirring both concern and debate, Canada is pushing for sweeping new powers to cancel entire groups of temporary visas, citing a sharp rise in fraudulent applications, many traced back to India. The proposed Bill C-12 would allow authorities to revoke multiple visas at once under “exceptional circumstances,” such as fraud, security risks, or crises like war or pandemics. The legislation, currently before Parliament, grants the Immigration, Refugees and Citizenship Canada (IRCC) and the Canada Border Services Agency (CBSA) the authority to identify problematic applicant groups. Once approved by the Governor in Council and published in the Canada Gazette, these classes of visas could be swiftly cancelled. While officials frame it as a necessary tool to protect immigration integrity, critics worry it might open doors to sweeping, unfair actions.

Fraud Cases On The Rise: The timing is no coincidence. Canada has been struggling with a surge in fraudulent student applications, particularly from India. In 2023, over 1,550 fake letters of acceptance from Indian agents were uncovered, a number that ballooned globally to more than 14,000 by 2024. This crackdown has coincided with a dramatic spike in student visa rejections: nearly 74% of Indian study permit applications were rejected in mid-2025, more than double the previous year. Universities across Canada are already feeling the pinch, with some reporting a two-thirds drop in Indian enrolments.

The Bigger Picture: For Indian students and professionals aspiring to Canada, the scrutiny is tightening. For Canada, the challenge is to strike a balance: safeguarding its borders without alienating one of its largest and most dynamic migrant groups.

Evironment & Climate
Air Pollution Behind 15% Of All Deaths In Delhi, A City Choking On Its Own Breath

Image credits: The Financial Express

Delhi’s Silent Killer: It’s official, Delhi isn’t just battling smog; it’s battling survival. A new study by the Institute for Health Metrics and Evaluation (IHME) and the Centre for Research on Energy and Clean Air (CREA) has found that nearly 15% of all deaths in Delhi in 2023 were linked to air pollution. That’s more than 17,000 lives lost in a single year, a grim reminder that the capital’s toxic air is far deadlier than most diseases.

The Silent Killer In The Air: Fine particulate matter, or PM2.5, is the chief culprit. Invisible to the naked eye, it seeps deep into the lungs, enters the bloodstream, and quietly wreaks havoc on the heart, brain, and other organs. The study notes that air pollution was a bigger killer than high blood pressure or diabetes, making it Delhi’s single largest health risk last year. The tragedy isn’t seasonal anymore, the capital now lives under a near-permanent haze of dust, fumes, and exhaust.

Numbers That Should Alarm Everyone: Between 2018 and 2023, deaths linked to polluted air climbed from 15,786 to 17,188, despite multiple government interventions and winter action plans. Researchers pointed out that while stubble burning contributed less than 6% of Delhi’s pollution even during peak months, vehicular emissions and industrial output remain the biggest offenders. The city’s lungs, it seems, are collapsing under its own traffic and construction dust.

Denial And The Cost Of Delay: Even as data mounts, India’s Environment Ministry maintains there’s “no conclusive evidence” directly linking air pollution to premature deaths. But for doctors and residents gasping through worsening winters, the evidence is in every wheeze and every emergency room visit. Treating pollution merely as an “environmental issue” misses the larger truth this is a public health emergency unfolding in slow motion.

A Breathless Future Unless We Act: If one in seven deaths in the capital can be traced to the air its people breathe, the city’s future demands more than token bans and emergency measures. It calls for rethinking urban mobility, industrial emissions, and lifestyle choices. Because in Delhi today, clean air is no longer a right it’s becoming a luxury few can afford.

Business India: Dhanda Hai Yeh!

Image credits: ET

Adani Enterprises Q2 Results: Despite a 6% year-on-year drop in revenue in Q2, Adani Enterprises’ consolidated net profit soared by 84% to ₹3,199 crore, driven by exceptional gains. The turnaround hinges on one-time factors rather than core business growth, as underlying earnings were under pressure. The board also approved a rights issue to raise up to ₹25,000 crore, indicating aggressive capital raising plans ahead.

IndiGo Q2 Results: IndiGo crashed into the red in Q2 FY26, posting a net loss of ₹2,582 crore, sharply wider than a year-earlier loss of about ₹987 crore. Revenue rose by ~9% year-on-year, but soaring forex losses and cost pressures weighed heavily.

Dassault Aviation Doubles Engineering Footprint In India: French aerospace major Dassault Aviation has more than doubled its engineering capacity in India by expanding its Pune centre to over 150 engineers, aligning with its global delivery strategy.

HP’s Big ‘Make in India’ Push: HP is ramping up its local manufacturing ambitions, aiming to produce every PC it sells in India domestically within the next 3–5 years. The company already assembles laptops and desktops in Chennai and plans to deepen its local sourcing ecosystem.

India Eyes New Trade Pacts To Boost Exports: New Delhi is accelerating negotiations on free trade agreements (FTAs) with the EU, Chile, and New Zealand, targeting closure before year-end. The deals are expected to unlock new export markets and secure critical raw materials like rare earths.

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